Category: Industry
Oil Status
VIENNA, August 9, 2011 (AFP) – The OPEC group of petroleum exporting countries slightly lowered its forecast Tuesday for 2011 and 2012 crude oil demand, citing concerns for the economic health of developed countries. “Should the situation see further deterioration in the US, then aggregate oil demand will see a further decline this year,” said […]
Sri Lanka Aviva returns to profit in June
Aug 09, 2011 (LBO) – Sri Lanka’s Aviva NDB Insurance earned profits of 34 million rupees in the June 2011 quarter returning from a loss of 46 million rupees a year earlier, with revenues growing from unit linked products, interim accounts show. The profits came despite lower investment income. Gross written premium from life and […]
‘s HNB Assurance June net steady
Aug 09, 2011 (LBO) – Sri Lanka’s HNB Assurance, a unit of listed Hatton National Bank said profits in the June 2011 quarter rose 2 percent to 24.6 million rupees with strong premium growth despite lower investment income. Managing director Manjula de Silva said revenue growth came from a hike in premiums and stronger sales […]
Sri Lanka to start seaplane flights to Arugam Bay
Aug 09, 2011 (LBO) – State-run SriLankan Airlines said it would start floatplane flights to the Arugam Bay, an internationally popular surfing hotspot in Sri Lanka’s eastern coast while bad weather has curtailed flights to the island’s central hills. SriLankan Airlines’ air taxi service operates scheduled flights to Polgolla in Kandy, Bentota, Koggala and Dikwella […]
Sri Lanka commissions 500kW solar plant
Aug 08, 2011 (LBO) – Sri Lanka has commissioned a 500 kiloWatt solar power plant in Hambantota in the south of the island built with Korean help, the island’s power and energy ministry said. The solar plant in Hambantota in the South of the island built with 412 million rupees of Korean financing has been […]
” rating confirmed: RAM
Aug 08, 2011 (LBO) – Sri Lanka Insurance Corporation’s AAA claims paying rating has been confirmed by RAM Ratings with a stable outlook, based on its competitive position, state ownership and capitalization. RAM said SLIC accounted for 22.3 percent of industry premium by December 2010 and 40 percent of assets. It had system importance as […]
” of rival Malaysia Airlines
KUALA LUMPUR, August 8, 2011 (AFP) – Fast-growing budget airline AirAsia is pushing for management control of loss-making rival Malaysia Airlines under a reported share swap, a source with knowledge of the deal told AFP Monday. Trading in the shares of national flag carrier Malaysia Airlines and Malaysia-based AirAsia was suspended on Monday following press […]
Credit Trend
Aug 08, 2011 (LBO) – Sri Lanka’s credit to business from commercial banks rose 34. 4 percent to 1,793.4 billion rupees in June with banks disbursing 39 billion rupees of loans during the month, while credit to the state also spiked sharply. Banks have given 33.1 billion rupees of loans denominated in rupees and 6.0 […]
Dilshan hits ton in Sri Lanka victory
PALLEKELE, August 6, 2011 (AFP) – Tillakaratne Dilshan hammered a maiden Twenty20 century to set up Sri Lanka’s 35-run victory over Australia in the opening match on Saturday. The captain made a 57-ball 104 not out, smashing five sixes and 12 fours in a superb display of hard and clean hitting to help his team […]
Sri Lanka Textured Jersey says June net up 136-pct
Aug 06, 2011 (LBO) – Sri Lanka’s Textured Jersey, a knitwear making unit of Sri Lanka’s Brandix apparel group said profits in the June 2011 quarter rose 136 percent to 143.9 million from a year earlier, despite a rise in cotton prices. The firm will have 655 million shares after the initial offer. Last year […]
Pay TV
Aug 05, 2011 (LBO) – Sri Lanka’s Dialog Television, a top pay TV operator which is a unit of telecom operator Dialog Axiata said subscribers grew 16 percent by end June 2011 to 184,000 from a year earlier, and its cash flows strengthened. The firm said revenues rose 11 percent to 1. 1 billion rupees […]
Sri Lanka Sunshine group June net hit by wage hike
Aug 05, 2011 (LBO) – Sri Lanka’s Sunshine Holdings said June 2011 quarter net profit fell 46 percent to 63 million rupees from a year ago as earnings from plantations were eroded by a wage hike given to workers. Work on two other power projects is to begin soon ensuring the firm achieves its target […]